Zacks Investment Research upgraded shares of Surgery Partners Inc. (NASDAQ:SGRY) from a sell rating to a buy rating in a research report sent to investors on Saturday morning. They currently have $22.00 price objective on the stock.
According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “
Other analysts have also issued reports about the stock. Barclays PLC began coverage on shares of Surgery Partners in a research note on Wednesday, July 13th. They set an equal weight rating and a $20.00 price objective for the company. Jefferies Group reaffirmed a buy rating and set a $27.00 price objective on shares of Surgery Partners in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Surgery Partners has a consensus rating of Buy and a consensus price target of $22.40.
Surgery Partners (NASDAQ:SGRY) opened at 20.07 on Friday. The stock’s 50 day moving average is $19.48 and its 200-day moving average is $16.80. The firm has a market capitalization of $974.00 million and a PE ratio of 108.49. Surgery Partners has a 52-week low of $11.76 and a 52-week high of $22.32.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Surgery Partners had a net margin of 2.63% and a return on equity of 18.80%. The company earned $289.70 million during the quarter, compared to analyst estimates of $275.99 million. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities analysts expect that Surgery Partners will post $0.63 earnings per share for the current year.
In related news, VP Jennifer Baldock sold 2,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the transaction, the vice president now owns 66,983 shares in the company, valued at $1,286,073.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Airain ltd purchased a new position in Surgery Partners during the second quarter worth approximately $233,000. Lbmc Investment Advisors LLC purchased a new position in Surgery Partners during the second quarter worth approximately $402,000. California Public Employees Retirement System purchased a new position in Surgery Partners during the second quarter worth approximately $340,000. Swiss National Bank purchased a new position in Surgery Partners during the second quarter worth approximately $657,000. Finally, California State Teachers Retirement System increased its position in Surgery Partners by 16.3% in the second quarter. California State Teachers Retirement System now owns 39,033 shares of the company’s stock worth $699,000 after buying an additional 5,468 shares in the last quarter. Hedge funds and other institutional investors own 38.32% of the company’s stock.
Surgery Partners Company Profile
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.